HEIWADO Co (TSE:8276) Cyclically Adjusted PB Ratio: 0.79 (As of Aug. 16, 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:8276 HEIWADO Co Ltd TSE:8276
77 GF Score
Price 円2,750.00
GF Value 円2,764.78
Valuation Fairly Valued
! 2 Warning Signs
View Full Analysis

What is HEIWADO Co Cyclically Adjusted PB Ratio?

HEIWADO Co TSE:8276 +0.81% 77 Cyclically Adjusted PB Ratio is 0.79 as of Aug. 16, 2026, which is 1% below its 10-year median of 0.80. GuruFocus rates TSE:8276 with a GF Score™ of 77/100 and a GF Value™ of 円2,764.78 (Fairly Valued). The stock has 2 warning signs investors should review. Among 792 Retail - Cyclical companies, HEIWADO Co ranks better than 64.9% on this metric.

As of today (2026-08-16), HEIWADO Co's current share price is 円2750.00. HEIWADO Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 was 円3,496.61. HEIWADO Co's Cyclically Adjusted PB Ratio for today is 0.79.

The historical rank and industry rank for HEIWADO Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

TSE:8276' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.59   Med: 0.8   Max: 1.36
Current: 0.79

During the past years, HEIWADO Co's highest Cyclically Adjusted PB Ratio was 1.36. The lowest was 0.59. And the median was 0.80.

TSE:8276's Cyclically Adjusted PB Ratio is ranked better than
64.9% of 792 companies
in the Retail - Cyclical industry
Industry Median: 1.22 vs TSE:8276: 0.79

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

HEIWADO Co's adjusted book value per share data for the three months ended in Feb. 2026 was 円3,958.993. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is 円3,496.61 for the trailing ten years ended in Feb. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


HEIWADO Co  (TSE:8276) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


HEIWADO Co Cyclically Adjusted PB Ratio Related Terms


HEIWADO Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for HEIWADO Co's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HEIWADO Co Cyclically Adjusted PB Ratio Chart

HEIWADO Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.74 0.73 0.66 0.72 0.86

HEIWADO Co Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.81 0.83 0.85 0.86 0.00

TSE:8276 vs DDS: Cyclically Adjusted PB Ratio Comparison

For the Department Stores subindustry, HEIWADO Co's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


HEIWADO Co Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, HEIWADO Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where HEIWADO Co's Cyclically Adjusted PB Ratio falls into.


TSE:8276
77GF Score
HEIWADO Co Ltd TSE:8276
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

HEIWADO Co Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

HEIWADO Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2750.00/3496.61
=0.79

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

HEIWADO Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 is calculated as:

For example, HEIWADO Co's adjusted Book Value per Share data for the three months ended in Feb. 2026 was:

Adj_Book=Book Value per Share/CPI of Feb. 2026 (Change)*Current CPI (Feb. 2026)
=3958.993/112.2000*112.2000
=3,958.993

Current CPI (Feb. 2026) = 112.2000.

HEIWADO Co Quarterly Data

Book Value per Share CPI Adj_Book
201605 2,521.982 98.200 2,881.531
201608 2,537.024 97.900 2,907.601
201611 2,566.194 98.600 2,920.152
201702 2,652.152 98.100 3,033.348
201705 2,663.991 98.600 3,031.438
201708 2,705.573 98.500 3,081.881
201711 2,730.301 99.100 3,091.219
201802 2,808.923 99.500 3,167.449
201805 2,829.323 99.300 3,196.879
201808 2,867.836 99.800 3,224.160
201811 2,886.196 100.000 3,238.312
201902 2,919.733 99.700 3,285.798
201905 2,931.325 100.000 3,288.947
201908 2,962.841 100.000 3,324.308
201911 2,975.615 100.500 3,322.030
202002 3,011.764 100.300 3,369.092
202005 2,992.793 100.100 3,354.559
202008 3,057.216 100.100 3,426.770
202011 3,090.259 99.500 3,484.694
202102 3,156.724 99.800 3,548.942
202105 3,185.857 99.400 3,596.108
202108 3,243.989 99.700 3,650.708
202111 3,265.915 100.100 3,660.696
202202 3,340.121 100.700 3,721.565
202205 3,785.528 101.800 4,172.262
202208 3,839.157 102.700 4,194.288
202211 3,408.187 103.900 3,680.448
202302 3,439.216 104.000 3,710.385
202305 3,449.855 105.100 3,682.909
202308 3,505.415 105.900 3,713.952
202311 3,522.327 106.900 3,696.961
202402 3,551.289 106.900 3,727.359
202405 3,604.364 108.100 3,741.070
202408 3,660.959 109.100 3,764.983
202411 3,660.046 110.000 3,733.247
202502 3,764.451 110.800 3,812.016
202505 3,788.460 111.800 3,802.014
202508 3,853.908 112.100 3,857.346
202511 3,841.735 113.200 3,807.797
202602 3,958.993 112.200 3,958.993

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 0.79 mean?
HEIWADO Co (TSE:8276) has a Cyclically Adjusted PB Ratio of 0.79 as of Aug. 16, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on HEIWADO Co and its competitors. This is near median its historical median of 0.80. Over the past decade, HEIWADO Co's Cyclically Adjusted PB Ratio has ranged from 0.59 to 1.36. According to the industry distribution chart, HEIWADO Co ranks #278 out of 792 companies in the Retail - Cyclical industry, placing it in the top 35.1%.
Is HEIWADO Co's Cyclically Adjusted PB Ratio too high?
HEIWADO Co's current Cyclically Adjusted PB Ratio of 0.79 is near median its 10-year median of 0.80. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 1.36. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.22. HEIWADO Co's value of 0.79 is 35.2% below this industry median. Based on the distribution chart, HEIWADO Co ranks #278 out of 792 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, HEIWADO Co has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does HEIWADO Co's Cyclically Adjusted PB Ratio compare to DDS?
According to the Retail - Cyclical industry distribution chart, HEIWADO Co ranks #278 out of 792 companies for Cyclically Adjusted PB Ratio. This puts HEIWADO Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.22. HEIWADO Co's value of 0.79 is 35.2% below this benchmark. Historically, HEIWADO Co's own Cyclically Adjusted PB Ratio has ranged from 0.59 to 1.36 over the past decade. While the company's 10-year median is 0.80 vs. the industry median of 1.22, HEIWADO Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.22, based on 792 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HEIWADO Co's current Cyclically Adjusted PB Ratio of 0.79 is 35.2% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on HEIWADO Co and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HEIWADO Co's current Cyclically Adjusted PB Ratio is 0.79, which is near median its own 10-year median of 0.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HEIWADO Co stock overvalued right now?
Based on GuruFocus' analysis, HEIWADO Co (TSE:8276) is currently considered Fairly Valued. The stock's GF Value™ is 円2,764.78, compared to a current price of 円2,750.00 — trading 0.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.79, which is near median its 10-year median of 0.80 and 35.2% below the Retail - Cyclical industry median of 1.22. HEIWADO Co's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For HEIWADO Co (TSE:8276), the current Cyclically Adjusted PB Ratio is 0.79 as of Aug. 16, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is HEIWADO Co (TSE:8276) Overvalued in 2026?

Based on GuruFocus' analysis, HEIWADO Co stock appears to be undervalued. The current stock price of 円2,750.00 is trading 0.5% below its estimated GF Value™ of 円2,764.78. GuruFocus considers HEIWADO Co to be Fairly Valued.

Key valuation signals for TSE:8276:

  • Cyclically Adjusted PB Ratio: 0.79 (near median its 10-year median of 0.80)
  • GF Value™: 円2,764.78 vs. price of 円2,750.00 (0.5% below fair value)
  • GF Score™: 77/100 with 2 warning signs
  • Industry Position: 35.2% below the Retail - Cyclical median (#278 of 792)

No single metric tells the full story. See the TSE:8276 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


HEIWADO Co Business Description

Address 31, Koizumi-cho, Hikone-shi, Shiga-ken, JPN, 522-8511
HEIWADO Co Ltd is a Japan-based company that is mainly engaged in the retail business. The company's stores offer a broad range of merchandise, including foods, apparel, housing-related goods, etc. The company also operates restaurant businesses, sales of books, CDs and DVDs, rental shops of CDs and DVDs, and others. The majority of the company's stores are located in Japan, with around half of them being located in the Shiga Prefecture, and the rest in other areas of Japan. The company also operates several department stores in Hunan province, China.
77GF Score

Get the complete analysis for TSE:8276

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円2,750.00
Price
円2,764.78
GF Value